Economy

Mexico tariffs have ‘very serious effects’ on US economy: Sheinbaum


STORY: :: February 2, 2025

:: Claudia Sheinbaum via X

:: Mexican President Sheinbaum says Trump tariffs

on Mexico will end up hurting the U.S. itself

:: Claudia Sheinbaum

Mexico President

“This measure, of 25% tariffs, has effects for both countries but it has very serious effects for the economy of the United States as it is going to greatly increase the costs of all products that are exported from Mexico to the United States, it’s going to have 25% more cost.”

“I also say that if they want to act, they should not set their sights on Mexico but on their own country where they have done nothing to stop the illegal sale of fentanyl and other drugs.”

The Mexican leader on Saturday (February 1) ordered retaliatory tariffs in response to the U.S. decision to slap 25% tariffs on all goods coming from Mexico, as a trade war broke out between the two neighbors.

In the video posted on X, Sheinbaum said her government has sought dialog rather than confrontation with its top trade partner but an announcement on a so-called ‘Plan B’ in response will be made on Monday (February 3), during her morning press conference.

For decades, the two neighbors have seen cross-border trade grow, including from a highly integrated auto industry, as well as massive volumes of crude oil, natural gas and motor fuels that move in both directions.

In her post, Sheinbaum also rejected as “slander” the White House’s allegation that drug cartels have an alliance with the Mexican government, a point Trump’s administration used to justify the tariffs.

Trump said the tariffs against Mexico were due to the country’s failure to stop fentanyl, a deadly opioid, from getting into the United States, as well as what he called uncontrolled migration.



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